• Archive for the ‘MF Global’ Category

    Another Update on the Case of FDIC v PricewaterhouseCoopers re: Colonial Bank

    By • Apr 8th, 2018

    On February 28 the US Justice Department fined Deloitte & Touche LLP $149.5 million for alleged fraud against the government related to its role as the independent outside auditor of Taylor, Bean & Whitaker Mortgage Corp. Also: The damages phase of the FDIC v. PwC case regarding Colonial Bank is set to begin in Washington DC on March 20.



    e-Books On MF Global, AIG, Goldman Sachs, PwC and Careers

    By • Mar 30th, 2014

    The MF Global Holdings Bankruptcy Plan Administrator filed a lawsuit on March 29 for professional malpractice and breach of contract against PwC as auditor of MF Global Holdings. I will be writing about the complaint and the status of the case early next week. In the meantime, you can review all I’ve written prior. I’ve updated this post with additional links as well as a link to my e-book compilation of MF Global columns from all sources that has material going back to its roots in the Refco fraud.



    In Pari Delicto: Can A Law Make It Go Away?

    By • Jul 27th, 2013

    Pete Brush at Law.com did a story last week about a story about in pari delicto, the adverse interest exception, and holding third-parties like auditors liable for fraud in bankruptcy cases. I was quoted.



    Forbes Magazine: Lying With Numbers

    By • Nov 13th, 2012

    The SEC is busy chasing Ponzi schemers and foreign bribers. But bogus accounting remains a bigger danger to the markets. (More links.)



    On Anniversary of MF Global Bankruptcy, Something Still Missing

    By • Oct 31st, 2012

    Something is still missing today, the one year anniversary of the bankruptcy of MF Global.
    What’s still missing from this sordid affair is an accounting of the whereabouts of the financial auditor, PricewaterhouseCoopers.



    MF Global: Where Is The Missing Money?

    By • Nov 10th, 2011

    Almost everyone wondering where the missing MF Global customer assets have gone thinks they will show up eventually. I believe the assets are long gone.



    SocGen And PwC – They Still Don’t Know Jack…

    By • May 26th, 2008

    As those of you who follow my Twitters know, last Wednesday I had the good fortune to have dinner with our Governor and a few other State of Illinois executives and local entrepreneurs. Most were in the technology arena, as is my client, who I was there to support, cajole, nudge and share a rib […]



    Oh! How The Mighty Have Fallen – Update On Auditors And Their Banking Clients

    By • Mar 20th, 2008

    Picture Source Back in November, I wrote about the imperial bankers and the impending doom and gloom that permeated the market. I warned that the CEOs and their Big 4 buddies should be nervous, too.   The Big 4 are now inextricably tied to their clients’ fortunes. Lawsuits are flying fast and furious as soon […]



    MF Global, SocGen, And "Rogue" Traders – Don’t Fall For The Simple Answers

    By • Mar 3rd, 2008

    MF Global Inc., the largest broker of exchange-traded futures and options, set aside $141.5 million to cover losses by an employee who “substantially exceeded” his own account’s trading limits betting on the wheat market. The company’s shares fell 28 percent, the biggest drop since their July debut, after the firm said broker Evan Dooley made […]